09:05     QUALITY HEALTH<00593> - Results Announcement                        

    Quality HealthCare Asia Limited announced on 22/03/2005:                  
    (stock code: 00593 )                                                      
    Year end date: 31/12/2004                                                 
    Currency: HKD                                                             
    Auditors' Report: Unqualified                                             
                                                                              
                                                            (Audited   )      
                                         (Audited   )       Last              
                                         Current            Corresponding     
                                         Period             Period            
                                         from 01/01/2004    from 01/01/2003   
                                         to 31/12/2004      to 31/12/2003     
                                   Note  ('000      )       ('000      )      
    Turnover                           : 788,348            743,522           
    Profit/(Loss) from Operations   1  : 54,017             33,341            
    Finance cost                       : (101)              (1,440)           
    Share of Profit/(Loss) of                                                 
      Associates                       : N/A                N/A               
    Share of Profit/(Loss) of                                                 
      Jointly Controlled Entities      : (7)                1,471             
    Profit/(Loss) after Tax & MI       : 45,018             24,439            
    % Change over Last Period          : +84.2     %                          
    EPS/(LPS)-Basic (in dollars)    2  : 0.208              0.113             
             -Diluted (in dollars)  2  : 0.207              0.113             
    Extraordinary (ETD) Gain/(Loss)    : N/A                N/A               
    Profit/(Loss) after ETD Items      : 45,018             24,439            
    Final Dividend                     : 1.5 cents          2.25 cents        
      per Share                                                               
    (Specify if with other             : N/A                N/A               
      options)                                                                
                                                                              
    B/C Dates for                                                             
      Final Dividend                   : 17/05/2005         to 20/05/2005 bdi.
    Payable Date                       : 28/06/2005                           
    B/C Dates for (-)                                                         
      General Meeting                  : N/A                                  
    Other Distribution for             : N/A                                  
      Current Period                                                          
                                                                              
    B/C Dates for Other                                                       
      Distribution                     : N/A                                  
                                                                              
    Remarks:                                                                  
                                                                              
                                                    2004    2003              
                                                    HK$'000 HK$'000           
                                                                              
    1.      PROFIT FROM OPERATIONS WAS AFTER CHARGING:                        
                                                                              
            Impairment of goodwill                  2,176   -                 
            Professional fees in connection with a takeover offer             
                                                    -       4,759             
            Corporate restructuring expenses        -       4,800             
                                                                              
    2.      EARNINGS PER SHARE                                                
                                                                              
            The calculation of basic earnings per share is based on the net   
    profit attributable to shareholders for the year of HK$45,018,000 (2003:  
    HK$24,439,000), and the weighted average of 216,649,775 (2003: 216,375,   
    934, as adjusted to reflect the consolidation of shares during that year) 
    ordinary shares in issue during the year.                                 
                                                                              
            The calculation of diluted earnings per share for the year is     
    based on the net profit attributable to shareholders for the year of HK$  
    45,018,000 (2003: HK$24,439,000).  The weighted average number of ordinary
    shares used in the calculation is the 216,649,775 (2003: 216,375,934, as  
    adjusted to reflect the consolidation of shares during that year) ordinary
    shares in issue during the year, as used in the basic earnings per share  
    calculation and the weighted average of 334,697 (2003: 346,403, as        
    adjusted to reflect the consolidation of shares during that year) ordinary
    shares assumed to have been issued at no consideration on the deemed      
    exercise of all outstanding share options during the year.                
                                                                              
            The outstanding warrants during the year were not accounted for in
    the calculation of the diluted earnings per share as they did not have a  
    dilutive effect on the basic earnings per share for the year.             
                                                                              
    For more details, please refer to the press announcement today.